ICAI Subjectwise Observation & Comments for Nov’22 CA Inter Students on basis of May’22 Exams topic wise and students performance

Hello Dear CA Students,

We are Sharing With You Highlights Of ICAI Webinar For Upcoming Nov2022 Exams. So kindly Check Out our http://www.castudynotes.com website and ALL the Best for Your November 2022 Exams.


Summary of ICAI Webinar Conducted on 1st September For Nov 2022 Exams:

🔰Key Highlights On CA Inter Individual Subjects – Group 1

♦️Paper 1 : Accounting

1). A total of 51% of students passed in this paper.
2). 22.75% scored 50+
3). 6.83% scored 60+and secured Exemption
4). A major drawback found was in Accounting Standards (AS)
Students lack in writing provisions of AS, suppose if the main calculation is wrong but if the provisions are correct, students will be awarded few marks for provisions.

♦️ Paper : 2 Corporate and Other Laws

1). A total of 40.46% passed in this paper.
2). Only 2% of students secured exemption.
3). 28% scored less than 30 marks.
4). 31% scored around 30-39 marks.
5). In the descriptive part, 98% of students scored less than 40 out of 70 marks.
6). In the MCQ part 19% of students scored less than 12 marks out of 30.
7). It’s not mandatory to write sections in exams.
8). More focus on key words and provisions.

‼️Major Drawbacks Found:

1). There was a question regarding a substituted agent where they asked the power of a substituted agent to take legal actions against recovery of claim, Students wrote regarding the relationship between substituted agent and principal which was nowhere related to the question.

2). There was one more question Does the explanation widen the ambit of section ? Students wrote 1 page about what the explanation is but didn’t answer what ICAI asked.

♦️ Paper : 3 Cost & Management Accounting

1). 26.27% passed in this paper.
2). 10.22% scored above 50.
3). 3.76% got exemption.
4). 1% got 70+.
5). 44% of students secured marks ranging 10-29.
6). This shows students have neglected theory part.

‼️Major Drawbacks Found:

1). Wrong application of formula like EOQ, Reorder level etc.
2). Improper presentation like Cost sheet, Process account.
3). Calculation errors.
4). Students don’t mention the assumptions that they have made.

♦️ Paper : 4A Income Tax 60 Marks

1). About 8% scored 40 out of 60 marks.
2). 72.96% scored less than 29 out of 60.
3). Surprising fact that 63.97% scored less than 10 out of 60.
4). Only 5% scored more than 40 due to MCQ.

‼️Major Drawbacks Found:

1). There was a question regarding Cash gift received from non relatives where students applied 50,000 limit per cash gift rather applying that for aggregate gifts received per year.

2). Students forgot to provide deduction under 24(a) at 30% for NAV of IFHP and Exemption under 10(32) income of minor child clubbed with parent 1500rs.

3). Though not asked in question, it’s mandatory for students to compute AMT since deduction under 10AA was there and adjusted total income exceeded 20 lakhs. More than 98% of students didn’t solve AMT.

♦️ Paper 4B GST40 Marks

1). 58.55% students got less than 30.
2).20% of them secured 30-39 marks.
3). Alarming fact : 99% of students got less than 20 marks in 28 marks of MCQ (DT+IDT).
4). 20% scored above 6 in MCQ of GST.

‼️Major Drawbacks Found:

1). Students have committed mistake in Section 7(1)(b) regarding Importation of services and got confused with Section 7(1)(c) which is Importation of services by a person from relative or own establishment outside.

2). Students are still confused with Composite and mixed supply by applying wrong rates of tax.

🔰Key Highlights On CA Inter Individual Subjects – Group 2

♦️ Paper : 5 Advanced Accounting

1). 48.97% have passed in this paper.
2). 23% of them scored 50+.
3). 1.25% scored 70+.

⚠️ Mistakes Found:

1). It’s found that a lot of students committed mistakes in the Consolidation chapter regarding calculation of pre acquisition and post acquisition profits as well as minority interest.
2). Lots of students failed to identify whether amalgamation is in the nature of purchase or merger.

♦️ Paper : 6 Auditing & Assurance

1). Case study application based questions will continue to come.

2). Even the valuator of papers has to undergo a test to become eligible for evaluation, Their pass percentage is about 72.

3). It’s found that students lack depth in concepts… Students know the concepts but they can’t present them well… Students answer what they know but not what is asked.

4). Answer should be presented in proper formats (Eg: Schedule 3 , banking company) and proper and detailed working notes required.

5). It’s been found that a lot of students commit mistakes while carrying forward numbers or figures from one page to another page or balance b/d , balance c/d..

6). Clearly state the assumptions in practical papers.. Don’t expect the valuator to know the assumptions.

7). One alarming fact disclosed by ICAI when watching was that.
In May 2022 attempt, only 11.45% of students passed in Paper 6 (Auditing and Assurance) which states majority of people didn’t clear only because of Audit paper.

They told the reason that is because.. students are writing answers in general English which is not acceptable… Key words or technical words are what matters.

♦️ Paper 7A EIS50 Marks

1). 61.85% scored more than 30 marks
2). 77.97% scored less than 10 marks

♦️ Paper 7B SM50 Marks

Passing Percentage Not Disclosed By ICAI.

💁🏻‍♂ Suggestion

1). Conceptual clarity.
2). Frequent revisions.
3). Time management.

♦️ Paper: 8 FM – ECO

Passing Percentage Not Disclosed.

⚠️ Mistakes Found:

1). Lack of presentation and writing skills.
2=. Students have written Correct explanation but gave wrong examples.
3). Students write it right but explain it wrong.

Overall Suggestions for Students:

1). Be aware of how much to write for how many marks and what to write for what questions.
2). Attend exam only if u have prepared effectively.
3). Partial understanding is always a harm for examination.
4). Read the question well and then answer.
5). Don’t guess in MCQ which shows the valuator that u are not confident about the subject.
6). Finish off the weak papers in the beginning while studying.
7). Attend those questions which u know better first and questions in which u are not confident has to be attempted later.
8). ICAI is organizing success strategy for all each paper from September 5 (2:30 – 5pm) students are advised to attend the class on YouTube.

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